Bank deposits Higher growth in current account and savings account (CASA) deposits led to a year-on-year growth of 11.9 per cent during 2020-21 as compared to 8.8 per cent in 2019-20, reserve Bank of India data shown. Part of House Deposits rose to 43.7 percent in March 2021 from 41.7 percent a year ago reserve Bank of India (RBI’s) Deposits in Scheduled Commercial Banks – March 2021 figures were released on Thursday.

Among the institutional categories, the domestic sector accounted for 64.1 per cent of the total deposits.

The data shows that individuals, including Hindu Undivided Families (HUFs), were the major constituents of the household sector and contributed 55.8 per cent of the total deposits.

Bank deposits of non-financial corporations grew by 18.8 per cent during 2020-21 and their share in total deposits increased to 16.2 per cent in March 2021.

Metropolitan branches of banks, which account for more than half of the total deposits, accounted for 59.6 per cent of the incremental deposits during 2020-21, as against 43.2 per cent in the previous year.

Three major states- Maharashtra, UP and Karnataka – accounted for a third of the total domestic sector’s outstanding deposits and over 40 per cent of its incremental deposits during 2020-21, the data showed.

The share of private sector banks in total bank deposits continued to grow at the expense of public sector banks and stood at 30.5 per cent (29.5 per cent a year ago), almost half of the deposits of financial and non-financial corporations. as in the rest of the world.

With the fall in interest rates on fixed deposits, the share of fixed deposits with interest rate below 6 per cent increased to 69 per cent in March 2021 from 21.3 per cent a year ago.

It added that interest rates of less than 5 to 6 per cent were the highest concentration at 36.8 per cent of total fixed deposits.

The data shows that the share of short-term deposits (original maturity of less than one year) rose to 32.8 per cent (25.4 per cent a year ago).